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The Argentine central bank could prevent family income beneficiaries from buying dollars

The restrictions on buying the US dollar are being tightened and expanded in Argentina. Now the central bank of this country would block the beneficiaries of the so-called “Emergency Family Income” in order to deny them access to the foreign exchange market. This was reported by BAE Business in an article signed by Eugenia Baliño on July 15.

“Those who collect the Emergency Family Income (IFE) cannot buy dollars on the official market, according to the central bank, BAE Negocios said,” Baliño wrote.

“The BCRA Board plans to (…) approve a regulation to block the CUIT of beneficiaries of this social plan, implemented in the context of the coronavirus pandemic crisis, to give them access to the MULC (Internal market) to be refused and free of change) ”, he added later.

The Argentine central bank could prevent family income beneficiaries from buying dollars
The Argentine central bank could prevent family income beneficiaries from buying dollars

According to the BAE Business article, this is the same measure that the BCRA has already taken on companies that have entered the ATP program (Emergency Aid Program for Work and Production), or companies that are on loans with zero interest rates or so have received other benefits from the state.

“The restriction comes at a time when the central bank is concentrating on dismantling what the company calls itself” the mafia of digital collectors. “From there, they discovered a network dedicated to using CUIT from Pays out to third parties and earns $ 200 a month, avoiding inventory, ”the publication said.

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